Solution blockchain for reconciliation of commission payments in the field of hotel business

2019: Development solution blockchain

On September 18, 2019 the Trevelport company announced solution development on the basis of blockchain technology which is designed to optimize processing of hotel commission payments in a distributed database. The product is created together with IBM Services and BCD Travel with participation of large hotel chains. The solution will allow to verify, trace and create the reporting under commission payments of hotel chains for services which travelers purchase through services of armoring. Thanks to creation of the general platform allowing to define authentically booking status and commission amounts, all participants of process will be the winner, consider in Trevelport.

The blockchain represents the database which is posted online in open access. It allows to collect information, to supplement it in real time and to transfer her to any number of persons with right of access. With assistance of IBM Garage of Trevelport and IBM Services company in partnership with BCD Travel developed a product with minimum necessary feature set on the basis of blockchain technology to arrange reconciliation of commission payments between BCD and three large hotel chains. Process of reconciliation of commission charges which pay hotels is integrated to the numerous problems caused by lack of end-to-end registration of transactions. Because of it it is necessary to compare data manually that causes when forecasting income of difficulty, connected with financial losses, adverse commercial effects at correction of commission charges and growth of responsibility. Elimination of these shortcomings will allow all interested persons participating in armoring of hotel rooms to receive compensation which are due to them, and finally to increase customer service quality to optimum level. The blockchain technology is an optimal solution of these tasks. As of September, 2019 Trevelport and IBM companies work in partnership with the interested industry members to transform the solution to the real pilot program.

"The technology of reconciliation of commission payments based on a blockchain will allow travel agencies and hotels to increase profitability of capital investments. Due to the changes arising during stay of guests in hotels, absence of guests and adding of free nights of stay in number there can be discrepancies in commission amounts which are connected with additional costs and losses of income. Our purpose consists in transferring of lifecycle of armoring to a blockchain, and we believe that it will increase transparency, the trust level, and finally and turnover of services of armoring", 'Ross Vinograd, the senior commercial director of Trevelport company noted'

"The international network companies and service providers will be able to win at implementation of blockchain technology, having got rid of need of carrying out infinite reconciliations and having devoted the released time to quality improvement of rest of travelers and their service. As soon as employees cease to verify for hours disputed amounts or timeliness and accuracy of information, they will be able to focus on the main thing — needs of travelers", Curt Vedzhvud, the head noted a blockchain in IBM Travel

"In infrastructure there are problems of standardization of data on all aspects. In this project the perspective attracts to find the only right decision which will allow us to fix some problems connected with standardization of data. So far as concerns the payment processes existing at us, I am interested in two purposes: ensuring accuracy of the amounts and timeliness of payments. The we will spend less time for search of the necessary answer, the it will be better for all of us", 'Dan Stephenson, regional responsible for workflow and the director of the separated Hyatt services noted'

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